- Binance received a court approval that enables the exchange to invest customer funds in US Treasury bills
- Crypto community shows enthusiasm towards the announcement of the court approval.
- BNB is up 5% in the past 24 hours.
Binance received court approval on Friday, allowing it to invest certain customers' fiat funds in US Treasury bills. Following the announcement, the BNB token saw a 5% rise as crypto community members debated the potential impact of this approval on Ethena's USDe token.
BNB rises following court approval of Binance's investment proposal
Cryptocurrency exchange Binance received a court approval that permits the investment of customer fiat funds into US Treasury bills. The court filing by the District Court of Columbia revealed that the exchange can only invest certain customer holdings under BitGo custody.
The exchange must also ensure that the investments stem from corporate assets drawn from third-party investors or businesses. The company is also required to report its investment data monthly.
According to court documents revealing the approval, the authorized US Treasury Bills "will mature on a rolling four-week basis," without any third-party inclusion.
The announcement raised the hopes of several crypto community members, who believe this is a big win for Binance and the crypto industry. Others suggest that the move will have a bullish impact on the price of the BNB token.
"My guess is Binance will take the path of becoming an exchange for both crypto and Tradfi assets eventually. They would be Nasdaq (exchange) + BlackRock (asset manager) + JPMorgan (bank) in the next decade. Bullish," said Eugene Ng, founding partner at DWF Labs.
Meanwhile, debates suggesting that the approval will impact Ethena's USDe stablecoin have made rounds on the X platform. Some investors believe that with Binance's new US Treasury bills investments, USDe investors may move their holdings away from the stablecoin.
"Why would you hodl USDe wen you could hodl fiat in Binance or sDAI in your wallet without the centralized risk? The trade? Long BNB & short ENA," said Crypto Condom on X.
Following the approval, BNB is up over 5%, as speculations of a potential bullish trend continue to spread.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin: BTC remains calm before a storm
Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.